Debt Collecting

Accounts receivable are formed between counterparties when the moment of transfer of ownership of goods (works, services) and their payment do not coincide in time.

Throughout the market, almost every company comes across some bad debt which they struggle to recover. Companies need to recover their funds in full, as soon as possible, otherwise their future economic activity may face challenges.

The first step to recovering debt is lodging a demand to return the funds. A written demand is mailed to the counterparty in debt, asking the debtor to cover their debt within a certain period of time. The demand states the basis of the claim, the claimed sum and the future plans of the creditor, if the debtor fails to meet the demand. A formal demand is a necessary part of dispute resolution. If a company fails to attempt to settle the dispute outside of court – the court will dismiss the claim automatically.

If a dispute could not be resolved, the parties involved can try to resolve it in court. In the Russian Federation, disputes arising from economic activity are resolved by arbitration courts. A claim of debt recovery must meet the requirements of articles 125 and 126 of the Arbitration Procedural Codex of the Russian Federation.

Aside from recovering the body of the debt, creditors may receive:

  • Penalties from the debtor;
  • Compensation of losses caused;
  • Compensation of stamp duty paid;
  • Compensation of funds spent on legal help;
  • Compensation of other expenses. i.e., of funds spent on expert’s reports.
  • Debt should be recovered within 3 years of occurence. Otherwise, the debtor may claim expiration of the period of limitation, thus ending the process in court.

    If a claim is fulfilled, the party filing the claim will receive compensation for the expenses it held, therefore, upcoming court cases should be treated with utmost responsibility. Experienced lawyers can help a party achieve victory in court, not only by preparing the necessary documents, but by participating in hearings and defending the client’s interests in court as well.

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    Company details
    Long title:
    Attorneys' Office of Moscow City " ZASHCHITA "
    Short title:
    Attorneys' Office " ZASHCHITA "
    ITN:
    7725286159
    PSRN:
    1157700013756
    IEC:
    772701001
    Legal address:
    117418, Moscow, Novocheremushkinskaya street, 69
    Current address:
    117418, Moscow, Novocheremushkinskaya street, 69
    OKPO:
    48521607
    ОКТМО:
    45908000
    Current account:
    40703810100000000161
    Correspondent account:
    30101810345250000745
    Bank:
    ФИЛИАЛ №7701 БАНКА ВТБ (ПАО) г. Москва
    RCBIC:
    044525745

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